Journal Entry Examples Flashcards

1
Q

Journal entry for purchases

A

Dr p+l purchases

Cr bank

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2
Q

Journal entries of transferring purchases to cost of sales, then to closing stock

A

Dr p+l cost of sales
Cr p+l purchases

Dr stock
Cr p+l cost of sales

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3
Q

Transfer of opening stock journal entry

A

Dr P+L cost of sales

Cr stock

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4
Q

If the stock figure is increasing what journal entry?

A

Debit

Decreasing is credit

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5
Q

Accrual journal entry

A

Dr p+l expense (e.g electricity)

Cr accrual

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